Bonduelle announces its comeback to the US Private Placement market through the successful refinancing of Ready Pac Foods acquisition
(Thomson Reuters ONE) -
BONDUELLE
A French SCA (Partnership Limited by Shares) with a capital of 56,000,000 Euros
Head Office: La Woestyne 59173 Renescure, France
Registred under number: 447 250 044 (Dunkerque Commercial and Companies
Register)
Villeneuve d'Ascq, France, 6(th) of July 2017 - Information Release
Bonduelle announces its comeback to the US Private Placement market through the
successful refinancing of Ready Pac Foods acquisition.
Bonduelle finalized, under particularly attractive conditions, the refinancing
operations associated with the acquisition of Ready Pac Foods.
On March 21(st), Bonduelle announced that it had fully completed the acquisition
of Ready Pac Foods for a total amount of $ 409 million.
This operation was financed through a bridge loan of $ 279 million with an
initial term of one year and a $ 130 million amortizing bank loan with a five
years maturity.
This operation was carried out jointly with Crédit Agricole Nord de France and
Crédit Agricole CIB.
The successful syndication process with the pool of existing banks as well as
with 3 new foreign banks, together with the particularly attractive margin
conditions have led Bonduelle to increase the total amount of the bank loan from
$ 130 million to $ 200 million.
At the same time, looking for additional maturity, Bonduelle issued on July
6, 2017, a new Private Placement in the US market (USPP) split into 2 tranches
of respectively ? 150 million and $ 50 million. These two tranches both have a
maturity of 10 years and bring the group's total debt average maturity to almost
5 years.
Bonduelle, being a repeat issuer on the USPP market since 2000, has been able to
deal this private placement under particularly competitive conditions both in
euros and US dollars, from a pool of historical investors who have renewed its
confidence in the group as well as a new investor.
Bonduelle was advised by BNP Paribas and Natixis, acting as agents, and Willkie
Farr & Gallagher as counsel.
Through this operation, Bonduelle pursues its policy of partial
disintermediation and diversification of its financing sources (banks, USPP,
EuroPP,...) by further expanding its platform of both banking and non-bank
financial partners, guaranteeing independence and competitiveness of its
indebtedness' cost, and thus reflects its post Ready Pac Foods acquisition
investment grade profile.
IR Contacts:
BONDUELLE - finance(at)bonduelle.com
Press Contacts / Public relations agency:
Benjamin ZEHNDER - RP carrées - Tel: +33.(0)6.76.41.18.19
Email: benjamin.zehnder(at)rp-carrees.com
Vanessa VAZZAZ - RP carrées - Tel: +33.(0)3.28.52.07.42 / M :
+33.(0)6.34.32.24.23
Email: vanessa.vazzaz(at)rp-carrees.com
About Bonduelle
Bonduelle, a family business, was established in 1853. Its mission is to be the
world reference in "well-living" through vegetable products. Prioritising
innovation and long-term vision, the group is diversifying its operations and
geographical presence. Its vegetable, grown over more than 130,000 hectares all
over the world, are sold in 100 countries under various brand names and through
various distribution channels and technologies. Expert in agro-industry with 58
industrial sites or own agricultural production, Bonduelle produces quality
products by selecting the best crop areas close to its customers.
Bonduelle is listed on Euronext compartment B
Euronext indices: CAC MID & SMALL - CAC ALL TRADABLE - CAC ALL SHARES
Bonduelle is part of the Gaïa non-financial performance index and employee
shareholder index (I.A.S.)
Code ISIN : FR0000063935 - Code Reuters : BOND.PA - Code Bloomberg : BON FP
Refinancement acquisiton Ready Pac - Press release 06.07.2017 GB:
http://hugin.info/143377/R/2118481/806749.pdf
This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: BONDUELLE via GlobeNewswire
Unternehmensinformation / Kurzprofil:
Datum: 06.07.2017 - 17:45 Uhr
Sprache: Deutsch
News-ID 551358
Anzahl Zeichen: 4905
contact information:
Town:
Villeneuve
Kategorie:
Business News
Diese Pressemitteilung wurde bisher 345 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"Bonduelle announces its comeback to the US Private Placement market through the successful refinancing of Ready Pac Foods acquisition"
steht unter der journalistisch-redaktionellen Verantwortung von
BONDUELLE (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
